Western Africa: Feedstuff Preparing Machinery Market 2024

Feedstuff Preparing Machinery Market Size in Western Africa

The West African feedstuff preparing machinery market declined slightly to $X in 2023, reducing by X% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2023, the growth of the market remained at a lower figure.

Feedstuff Preparing Machinery Production in Western Africa

In value terms, feedstuff preparing machinery production shrank modestly to $X in 2023 estimated in export price. Overall, production continues to indicate a mild descent. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Feedstuff Preparing Machinery Exports

Exports in Western Africa

In 2023, after six years of growth, there was significant decline in shipments abroad of machinery for preparing animal feedstuffs, when their volume decreased by X% to X units. In general, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2022, and then dropped notably in the following year.

In value terms, feedstuff preparing machinery exports contracted notably to $X in 2023. Overall, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then plummeted in the following year.

Exports by Country

Ghana was the key exporting country with an export of about X units, which resulted at X% of total exports. It was distantly followed by Nigeria (X units), generating a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Ghana (with a CAGR of X%).

In value terms, Ghana ($X) emerged as the largest feedstuff preparing machinery supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Ghana amounted to X%.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2023, which is down by X% against the previous year. Over the period under review, the export price, however, showed a significant increase. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The level of export peaked at $X per unit in 2022, and then shrank remarkably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Nigeria totaled $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Feedstuff Preparing Machinery Imports

Imports in Western Africa

For the third year in a row, Western Africa recorded growth in supplies from abroad of machinery for preparing animal feedstuffs, which increased by X% to X units in 2023. In general, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, feedstuff preparing machinery imports contracted to $X in 2023. Overall, imports posted a notable expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2023, imports failed to regain momentum.

Imports by Country

Nigeria was the main importing country with an import of about X units, which accounted for X% of total imports. Ghana (X units) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Togo (X%) and Senegal (X%). The following importers - Cote d'Ivoire (X units), Mali (X units) and Mauritania (X units) - together made up X% of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Togo (X%), Mali (X%), Mauritania (X%), Cote d'Ivoire (X%), Ghana (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. While the share of Togo (X p.p.), Cote d'Ivoire (X p.p.), Mali (X p.p.) and Mauritania (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported machinery for preparing animal feedstuffs in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Togo ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

In Nigeria, feedstuff preparing machinery imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Togo (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2023, which is down by X% against the previous year. Overall, the import price recorded a noticeable slump. The growth pace was the most rapid in 2022 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Nigeria ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform